No Winners Seen in Trump’s ‘Destructive’ Energy Tariffs
- Analysts expect levies to hurt refiners, raise US gas prices
- Canada, Mexico also stand to lose in oil, gas trade war
An oil tanker is filled at the Port of Quebec City in Quebec City, Quebec.
Photographer: Valerian Mazataud/BloombergThis article is for subscribers only.
When President-elect Donald Trump announced his plan to impose tariffs on goods coming from Canada and Mexico until they stop the flow of migrants and drugs, he said he wanted the countries to “pay a very big price!”
In energy markets, it won’t just be Canada and Mexico taking the hit, according to analysts, who say the domestic fallout would be so severe that Trump will likely end up exempting energy products once he takes office.